Mexico has been one of the biggest witnesses to the investment of Asian companies in Latam. Large companies such as Aliexpress, Shein and Shoppe tried to take advantage of the country’s technological development and large market.
Confirmed in this study connecting Asia-Pacific and Latin America, Prepared by Americas Market Intelligence (AMI) in collaboration with Nuvei, Trade between Latin America region and Asia exceeds 500,000,000 dollars per year and China assured during the World Economic Forum that they plan to increase the figure to 700,000,000 by 2035.
Almost a quarter of Asian companies’ investments in Latam are in Mexico
Among the most relevant data shared by the study, all investments announced by Asian companies from 2020 to date, 23% were seized in Mexico.
“Mexico is an excellent market for cross-border e-commerce, thanks to its open trade regime and proximity to the United States. Due to limited nationwide availability, Mexicans learned to buy abroad and consume digital goods the whole world”demonstrates the work.
According to Marcos Álvarez, CEO of Market Analysis, Monterrey has more companies and Nuevo León is registered more than 14 transactions in the manufacturing sector In the first nine months of 2022.
short circuit in mexico
Consulting firm Forbes México notes that the Latin country is becoming more attractive to manufacturing from Asia. onshore, a term that refers to bringing production closer to the consumption zone; Seen in terms of Asian companies’ investments in Latam.
According to the CEO of Market Analysis, large Asian companies are moving their operations to Mexico to mitigate the negative effects of the trade war between China and the United States.
“By the end of the third quarter of 2022, more than 5.09 million square feet had been absorbed by startups in Mexico. 80.3% sued by companies from China14% from the USA, 3.9% from Japan and 1.8% from South Korea.
On the other hand, Praful Morar de Nuvei states that Mexico has an ecosystem of payment methods that can be described as unique. This is attracting the attention of Asian investors as they see it as a way to leverage their familiarity to see an increase in transactions.
Smartphone acceptance from China
Studies also show that Mexico has largely adopted smartphones from China. They currently represent 30% of all smartphones in the Mexican market.
“Huawei continues to dominate among Chinese smartphone vendors. Xiaomi will surpass Huawei in 2023. Therefore, the newly digitized Mexican consumer needs websites and apps that are easy to use and have an intuitive mobile design. Limited phone storage and internet bandwidth are issues for many, so developing a Mexico-friendly mobile user experience requires an approach designed to meet these challenges.”presents the research.
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